Tax amnesty pockets Rp 142t in repatriated assets

The directorate general of taxation reports that the government’s flagship tax amnesty program has collected Rp 142 trillion (US$10.92 billion) in repatriated assets as of Oct. 7 and Rp 97.3 trillion in tax revenues since the program was initiated in July.

Tax office data also shows that the program has booked Rp 3.78 quadrillion in assets from 401,504 declaration letters (SPHs).

Declared assets from the domestic sphere accounted for the biggest portion of the figure, amounting to Rp 2.66 quadrillion. Meanwhile, the program has booked Rp 976 trillion in declared assets from overseas.

The amount of repatriated assets has reached 78.88 percent of Bank Indonesia’s estimate. The central bank estimates that repatriated assets from the program will reach Rp 180 trillion by the end of this year.

The government hopes that the tax amnesty program can generate Rp 165 trillion in tax revenues. (ebf)